Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community

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Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community

Bitcoin and other altcoins have suffered massive losses since May. But after a point, things started changing a bit. For example, bitcoin that fell to $17K on June 18 recovered to trade between $20K and $21K from June 19 to June 28 when it traded above $21K in the early hours of the day.

Unfortunately, the crypto could not sustain the recovery above $21K and lost more than $500 some hours later. The change in Bitcoin price resulted from mixed reactions in the market concerning regulators’ stance on crypto.

According to Gary Gensler, the SEC boss, regulators place Bitcoin and other tokens under commodities. Gensler mentioned that a spot Bitcoin ETF might not be the best for the financial market. So, the commission will not approve any application filed to launch a spot BTC ETF.

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The Securities and Exchange Commission boss made all these assertions when a media firm interviewed him. After the interview, many Bitcoin holders started selling off again, causing a fall in Bitcoin verð.

Margir Bitcoin Holders Grab More Coins

During the market crash and price plunge, many investors wondered whether to sell off or buy more to increase their portfolio. However, according to Glassnode data recently, some Bitcoin holders believe this market crash is the right time to buy more BTC. The firm disclosed the data over the weekend on Twitter, revealing that more than 100 whale addresses are buying more Bitcoin þetta tímabil.

Gögnin sýndu að þessir hvalir grípa þessar mynt með afslætti vegna yfirstandandi skelfingar á markaðnum. Einnig tók Glassnode fram að núverandi þróun gæti varað lengi. Annar vísbending sem sýnir áhuga á að kaupa meira meðal hvala er magn BTC í nokkrum veski.

BTC drops below $20,000s | Source: BTCUSD on TradingView.com

Og heimilisföngin sem höfðu frá 10BTC til 10,000BTC hafa bætt við fleiri myntum á tveimur vikum. Síðan hafa þessi veski yfir 10,000BTC vaxið frá öðrum mánuði 2022.

Miners Feel The Strain

Dulmálsveturinn 2022 hafði einnig hræðileg áhrif á námuverkamenn. Þeir eru að reyna að græða sem hefur ekki verið auðvelt vegna bjarnamarkaðarins.

Many miners have given up their equipment to reduce pressure. An analysis by strategists has shown that miners in the public sectors are responsible for 20% of miners’ sales between May & June. They also indicated that it might be the same for the private sector miners.

En þá eiga námumenn í erfiðleikum með að borga til baka 4 milljarða dollara lánin sem námubúnaður þeirra hefur tryggð. Samkvæmt skýrslu hafa margir námuverkamenn staðið í skilum með lánasamninginn en aðrir sýna veikleika.

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Ástæðan er sú að bjarnarmarkaðurinn hefur hrunið verðmæti námuboranna sem notaðir eru sem veð. Fyrir vikið hækkar lánið þar sem veðvirðið nú samsvarar ekki lengur lánsfjárhæðinni.

Valin mynd frá BBC, töflur frá TradingView.com

Upprunaleg uppspretta: NewsBTC